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Multiple Choice Question 157 On July 1, 2017, Sheridan Company sells equipment for $103000. The equipment originally cost $270000, had an estimated 5-year life and an expected salvage value of $50000. Accumulated Depreciation had a balance of $154000 on January 1, 2017, using the straight-line method. The gain or loss on disposal is 13000 loss. $9000 loss. $9000 gain. $13000 gain